GM Plans a Second U.S. Battery Factory, Report Says
General Motors (NYSE: GM) is working on selecting a site for a second battery factory in the U.S., according to a Wall Street Journal report today. Though a final decision hasn't been made, GM and South Korean joint venture partner LG Chem are close to choosing Tennessee as the location.
GM and LG Chem started construction on an initial battery cell plant in Lordstown, Ohio, last year and are hiring workers for the factory, which is expected to begin production next year. The two companies invested $2.3 billion for the Ohio factory, which will supply GM's Ultium battery cell program. The company plans to power its all-electric Cadillac Lyriq and other vehicles, including the GMC Hummer EV, with the Ultium platform.
Source Fool.com
